Powell Says Fed Expects ‘Meaningful’ Amount of Inflation in Coming Months

The Federal Open Market Committee decided to leave our policy interest rate unchanged. We believe that the current stance of monetary policy leaves us well positioned to respond in a timely way to potential economic developments. The effects of tariffs will depend, among other things, on their ultimate level.Expectations of that level and thus of the related economic effects reached a peak in April and have since declined. Even so, increases in tariffs this year are likely to push up prices and weigh on eco ...